Morocco plans IPO for port operator to fund its expansion
Add BT as a preferred source[RABAT] Morocco's government plans to sell shares of state-owned ports operator Marsa Maroc next year, raising cash to fund its push to establish the country as a focus for global cargo transfers, the company said.
As a first step, the finance ministry's privatisation and public enterprises department is poised to commence a tender to selected banks as it seeks advisers on the initial public offering, Marsa Maroc spokeswoman Fatima-Zahra Ahrar said. Shares will be listed on the Casablanca exchange.
"We want to raise funds as we're expanding," Ms Ahrar said on Friday. "It's part of a process aimed at opening up the capital of Marsa Maroc. The stakes will depend on what the mandated banks propose."
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